West Tucson Real Estate Market Report – February 2010

March 10, 2010 | By Kelley Koehler | Filed Under West Tucson

West Tucson didn’t see a February bump like other parts of town. Overall, Tucson tends to start to recover from the winter slump in February – and West Tucson missed the memo. Sales were down, as were home values.

The average house cost $197,969, with a median of $143,950 in February 2010. Last month, the average was $227,325, and last year at this time, the average was $252,821. As you can see clearly, West Tucson is still in a home value decline.

There’s also an oversupply, much like the rest of Tucson. With 332 houses listed and 28 sales, there’s nearly 12 months of supply in West Tucson – a value more similar to those in the very ugly housing year of 2008.

A handful of townhomes and condos sold in February too – a typical townhome cost $91,960 and the average condo cost $91,900. That’s a pretty high value for a condo – there was only one that sold. Usually, average condo prices have been more in the $40k-60k range.

El Rio Park and Ironwood had the most sales in February, with 3 apiece.

Of the 34 homes that sold, 15 were bank owned homes and 4 were short sales, making distressed properties nearly 56% of the housing market in West Tucson.

You can always see the chart versions of this data too, at my West Tucson Market page.

The raw numbers:

	SFR	Townhome	Condo	All
	Value	Value	Value	Value	%change
Avg LP	$326,887	$104,234	$87,069	$285,846	7.3%
Avg SP	$197,969	$91,960	$91,900	$179,260	-14.9%
Med SP	$143,950	$99,000	$91,900	$129,175	-21.5%
#Listed	332	40	32	404	-4.9%
#Sold	28	5	1	34	-15.0%
MOI	11.9 months	8.0 months	32.0 months	11.9 months	11.8%

Comments

One Response to “West Tucson Real Estate Market Report – February 2010”

Dr. Richard Aragon- Tucson Chiropractor on March 10th, 2010 11:02 pm

I live on the west side of Tucson and have seen my home value decrease so much. I hope in a couple of years things will turn around.

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